MUMBAI: The state government have decided to form a separate authority only to regulate cooperative housing societies in Mumbai and suburbs.

Subhash Deshmukh minister for department of cooperation, while replying on queries related to amendment of a Bill of Maharashtra Cooperative Societies Act 1960, announced that the government will form a separate authority for the housing societies.

The Maharashtra Cooperative Societies Act has been applicable on sugarcane factories, cotton industry, milk, cooperative banks, credit societies that are running on cooperative basis and also cooperative housing societies. There are total 2.4 lakh societies under the Act that includes over 90,000 housing societies of which over 22,000 are in Mumbai.

BJP MLA Mangal Prabhat Lodha demanded that there should be a separate law for housing societies.

“A committee has been formed by the government on the issue which will submit its report in April,” said the minister.

Currently, the Goods and Services Tax (GST) is levied at 12 per cent on payments made for under-construction property or ready-to-move-in flats where completion certificate has not been issued at the time of sale.